Shares of Iberdrola S.A. (OTCMKTS:IBDRY – Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $95.00 and traded as high as $95.3599. Iberdrola shares last traded at $94.42, with a volume of 59,377 shares.
Wall Street Analysts Forecast Growth
IBDRY has been the subject of a number of research analyst reports. Barclays upgraded shares of Iberdrola from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 26th. Citigroup raised shares of Iberdrola to a “hold” rating in a research report on Friday, June 26th. Erste Group Bank raised shares of Iberdrola from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Finally, Oddo Bhf lowered Iberdrola from an “outperform” rating to a “neutral” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.
Check Out Our Latest Stock Report on IBDRY
Iberdrola Stock Performance
Iberdrola (OTCMKTS:IBDRY – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). Iberdrola had a return on equity of 9.88% and a net margin of 15.59%.The business had revenue of $11.93 billion during the quarter, compared to analysts’ expectations of $12.08 billion. As a group, research analysts forecast that Iberdrola S.A. will post 4.6 earnings per share for the current year.
About Iberdrola
Iberdrola, SA is a Spanish multinational electric utility headquartered in Bilbao that develops, produces and supplies electricity and related energy services. The company’s core activities span electricity generation across a diverse mix of assets, transmission and distribution network ownership and operation, and retail supply to residential, commercial and industrial customers. Iberdrola also offers energy management and digital solutions aimed at improving efficiency and integrating distributed and renewable resources.
Renewable energy is a central focus of Iberdrola’s business strategy, with significant investments in wind (onshore and offshore), hydroelectric and solar power and in the modernization of grids to accommodate increasing shares of intermittent generation.
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